2021 Q4 Form 10-K Financial Statement

#000105829022000023 Filed on February 16, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $4.777B $18.51B $4.184B
YoY Change 14.17% 11.14% -2.33%
Cost Of Revenue $3.030B $11.60B $2.649B
YoY Change 14.38% 9.41% -3.64%
Gross Profit $1.747B $6.903B $1.535B
YoY Change 13.81% 14.17% 0.0%
Gross Profit Margin 36.57% 37.3% 36.69%
Selling, General & Admin $871.0M $3.503B $874.0M
YoY Change -0.34% 13.0% 29.29%
% of Gross Profit 49.86% 50.75% 56.94%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $144.0M $574.0M $148.0M
YoY Change -2.7% 2.68% 11.28%
% of Gross Profit 8.24% 8.32% 9.64%
Operating Expenses $1.015B $3.503B $1.019B
YoY Change -0.39% 13.0% 50.74%
Operating Profit $732.0M $2.826B $516.0M
YoY Change 41.86% 33.68% -17.57%
Interest Expense $4.000M $9.000M $0.00
YoY Change -62.5% -100.0%
% of Operating Profit 0.55% 0.32% 0.0%
Other Income/Expense, Net $1.000M $1.000M $2.000M
YoY Change -50.0% -105.56% 0.0%
Pretax Income $737.0M $818.0M $467.0M
YoY Change 57.82% 0.49% -25.4%
Income Tax $162.0M $693.0M $152.0M
% Of Pretax Income 21.98% 84.72% 32.55%
Net Earnings $576.0M $2.137B $316.0M
YoY Change 82.28% 53.52% -20.0%
Net Earnings / Revenue 12.06% 11.55% 7.55%
Basic Earnings Per Share $4.06
Diluted Earnings Per Share $1.091M $4.05 $590.7K
COMMON SHARES
Basic Shares Outstanding 525.3M shares 527.0M shares 534.6M shares
Diluted Shares Outstanding 528.0M shares

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.719B $2.719B $2.724B
YoY Change -0.18% -0.18% -20.44%
Cash & Equivalents $1.792B $1.792B $2.680B
Short-Term Investments $927.0M $927.0M $44.00M
Other Short-Term Assets $1.066B $756.0M $1.040B
YoY Change 2.5% 4.28% 11.71%
Inventory
Prepaid Expenses
Receivables $3.557B $3.867B $3.087B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $7.342B $7.342B $6.851B
YoY Change 7.17% 7.17% -9.99%
LONG-TERM ASSETS
Property, Plant & Equipment $1.171B $2.104B $1.251B
YoY Change -6.39% -7.07% -4.43%
Goodwill $5.620B $5.031B
YoY Change 11.71% 26.44%
Intangibles $1.218B $1.046B
YoY Change 16.44% 0.48%
Long-Term Investments $63.00M $463.0M $31.00M
YoY Change 103.23% 5.23% 244.44%
Other Assets $701.0M $1.105B $846.0M
YoY Change -17.14% -14.41% 14.95%
Total Long-Term Assets $10.51B $10.51B $10.07B
YoY Change 4.35% 4.35% 17.21%
TOTAL ASSETS
Total Short-Term Assets $7.342B $7.342B $6.851B
Total Long-Term Assets $10.51B $10.51B $10.07B
Total Assets $17.85B $17.85B $16.92B
YoY Change 5.49% 5.49% 4.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $361.0M $361.0M $389.0M
YoY Change -7.2% -7.2% 62.76%
Accrued Expenses $2.258B $2.258B $2.234B
YoY Change 1.07% 1.07% 20.56%
Deferred Revenue
YoY Change
Short-Term Debt $38.00M $0.00 $38.00M
YoY Change 0.0% 0.0%
Long-Term Debt Due $38.00M $46.00M $49.00M
YoY Change -22.45% -6.12% 0.0%
Total Short-Term Liabilities $3.529B $3.529B $3.540B
YoY Change -0.31% -0.31% 18.67%
LONG-TERM LIABILITIES
Long-Term Debt $626.0M $631.0M $663.0M
YoY Change -5.58% -6.38% -5.29%
Other Long-Term Liabilities $287.0M $1.483B $368.0M
YoY Change -22.01% -11.04% 68.81%
Total Long-Term Liabilities $913.0M $2.114B $1.031B
YoY Change -11.45% -9.7% 12.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.529B $3.529B $3.540B
Total Long-Term Liabilities $913.0M $2.114B $1.031B
Total Liabilities $5.861B $5.861B $6.087B
YoY Change -3.71% -3.71% 17.46%
SHAREHOLDERS EQUITY
Retained Earnings $11.92B $10.69B
YoY Change 11.54% -3.02%
Common Stock $5.000M $5.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $11.99B $11.99B $10.84B
YoY Change
Total Liabilities & Shareholders Equity $17.85B $17.85B $16.92B
YoY Change 5.49% 5.49% 4.44%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $576.0M $2.137B $316.0M
YoY Change 82.28% 53.52% -20.0%
Depreciation, Depletion And Amortization $144.0M $574.0M $148.0M
YoY Change -2.7% 2.68% 11.28%
Cash From Operating Activities $825.0M $2.495B $898.0M
YoY Change -8.13% -24.37% -4.26%
INVESTING ACTIVITIES
Capital Expenditures -$65.00M $279.0M -$89.00M
YoY Change -26.97% -29.9% -4.3%
Acquisitions $970.0M
YoY Change -13.62%
Other Investing Activities -$433.0M -$1.885B $40.00M
YoY Change -1182.5% 124.4% -114.18%
Cash From Investing Activities -$498.0M -$2.164B -$49.00M
YoY Change 916.33% 74.8% -86.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $771.0M
YoY Change -52.44%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -196.0M -$1.203B -2.626B
YoY Change -92.54% -40.12% 937.94%
NET CHANGE
Cash From Operating Activities 825.0M $2.495B 898.0M
Cash From Investing Activities -498.0M -$2.164B -49.00M
Cash From Financing Activities -196.0M -$1.203B -2.626B
Net Change In Cash 131.0M -$888.0M -1.777B
YoY Change -107.37% -2637.14% -673.23%
FREE CASH FLOW
Cash From Operating Activities $825.0M $2.495B $898.0M
Capital Expenditures -$65.00M $279.0M -$89.00M
Free Cash Flow $890.0M $2.216B $987.0M
YoY Change -9.83% -23.61% -4.27%

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CY2020 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
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CY2019 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
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CY2021 us-gaap Comprehensive Income Net Of Tax
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CY2020 us-gaap Repayments Of Long Term Lines Of Credit
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CY2019 us-gaap Payments Of Dividends Common Stock
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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2680000000 USD
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CY2021 us-gaap Use Of Estimates
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The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying disclosures. We evaluate our estimates on a continuous basis. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. The actual amounts may vary from the estimates used in the preparation of the accompanying consolidated financial statements.
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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P2Y
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CY2019 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
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91000000 USD
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368000000 USD
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117000000 USD
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1049000000 USD
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301000000 USD
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35000000 USD
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89000000 USD
CY2020Q4 ctsh Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment And Other Noncurrent Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipmentAndOtherNoncurrentAssets
30000000 USD
CY2020Q4 ctsh Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Operating Lease Right Of Use Asset
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CY2020Q4 ctsh Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Non Deductible Goodwill
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CY2020Q4 ctsh Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Tax Deductible Goodwill
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CY2020Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities
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CY2020Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Noncurrent Liabilities
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35000000 USD
CY2020Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
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CY2020Q4 us-gaap Business Combination Contingent Consideration Liability
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CY2020 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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CY2019 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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CY2020 us-gaap Debt Securities Available For Sale Realized Gain
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CY2019 us-gaap Debt Securities Available For Sale Realized Gain
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CY2020 us-gaap Debt Securities Available For Sale Realized Loss
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CY2019 us-gaap Debt Securities Available For Sale Realized Loss
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CY2020 us-gaap Debt Securities Available For Sale Realized Gain Loss
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CY2019 us-gaap Debt Securities Available For Sale Realized Gain Loss
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CY2020Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Fair Value
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CY2020Q4 us-gaap Property Plant And Equipment Gross
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CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2021Q4 us-gaap Property Plant And Equipment Net
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CY2020Q4 us-gaap Property Plant And Equipment Net
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CY2020Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
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CY2019 us-gaap Finance Lease Right Of Use Asset Amortization
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CY2020Q4 us-gaap Capitalized Computer Software Gross
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106000000 USD
CY2020Q4 us-gaap Capitalized Computer Software Accumulated Amortization
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CY2020 us-gaap Capitalized Computer Software Amortization1
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CY2019 us-gaap Capitalized Computer Software Amortization1
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CY2020Q4 ctsh Lease Rightof Use Asset
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CY2021Q4 us-gaap Operating Lease Liability Noncurrent
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CY2019 us-gaap Operating Lease Cost
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CY2021 us-gaap Variable Lease Cost
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CY2020 us-gaap Variable Lease Cost
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CY2019 us-gaap Variable Lease Cost
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CY2020 us-gaap Short Term Lease Cost
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CY2019 us-gaap Short Term Lease Cost
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CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2020Q4 us-gaap Indefinite Lived Trade Names
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CY2020Q4 us-gaap Accrued Professional Fees Current
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CY2020Q4 us-gaap Accrued Liabilities And Other Liabilities
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2096000000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2020 us-gaap Current Federal State And Local Tax Expense Benefit
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CY2019 us-gaap Current Federal State And Local Tax Expense Benefit
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CY2019 us-gaap Current Foreign Tax Expense Benefit
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CY2021 us-gaap Current Income Tax Expense Benefit
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CY2020 us-gaap Current Income Tax Expense Benefit
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520000000 USD
CY2019 us-gaap Current Income Tax Expense Benefit
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CY2020 us-gaap Deferred Federal State And Local Tax Expense Benefit
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CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
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CY2020 us-gaap Deferred Foreign Income Tax Expense Benefit
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261000000 USD
CY2019 us-gaap Deferred Foreign Income Tax Expense Benefit
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CY2021 us-gaap Deferred Income Tax Expense Benefit
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CY2020 us-gaap Deferred Income Tax Expense Benefit
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CY2019 us-gaap Deferred Income Tax Expense Benefit
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CY2021 us-gaap Income Tax Expense Benefit
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CY2020 us-gaap Income Tax Expense Benefit
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CY2019 us-gaap Income Tax Expense Benefit
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643000000 USD
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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440000000 USD
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2019 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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534000000 USD
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.210
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
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CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2020 us-gaap Income Tax Reconciliation State And Local Income Taxes
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52000000 USD
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2019 us-gaap Income Tax Reconciliation State And Local Income Taxes
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59000000 USD
CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2021 us-gaap Income Tax Reconciliation Tax Exempt Income
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CY2020 us-gaap Income Tax Reconciliation Tax Exempt Income
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48000000 USD
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Exempt Income
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CY2019 us-gaap Income Tax Reconciliation Tax Exempt Income
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90000000 USD
CY2019 us-gaap Effective Income Tax Rate Reconciliation Tax Exempt Income
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CY2021 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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137000000 USD
CY2021 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2020 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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178000000 USD
CY2020 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2019 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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145000000 USD
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CY2019 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2021 ctsh Effective Income Tax Reconcilliations India Tax Law Amount
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CY2021 ctsh Effective Income Tax Reconcilliations India Tax Law Percent
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0
CY2020 ctsh Effective Income Tax Reconcilliations India Tax Law Amount
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0 USD
CY2020 ctsh Effective Income Tax Reconcilliations India Tax Law Percent
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0
CY2019 ctsh Effective Income Tax Reconcilliations India Tax Law Amount
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21000000 USD
CY2019 ctsh Effective Income Tax Reconcilliations India Tax Law Percent
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CY2021 ctsh Effective Income Tax Rate Reconciliation Discrete Tax Benefit Amount
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14000000 USD
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CY2020 ctsh Effective Income Tax Rate Reconciliation Discrete Tax Benefit Amount
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CY2020 ctsh Effective Income Tax Rate Reconciliation Discrete Tax Benefit Percent
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0
CY2019 ctsh Effective Income Tax Rate Reconciliation Discrete Tax Benefit Amount
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CY2019 ctsh Effective Income Tax Rate Reconciliation Discrete Tax Benefit Percent
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0
CY2021 us-gaap Income Tax Reconciliation Tax Credits
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42000000 USD
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
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CY2020 us-gaap Income Tax Reconciliation Tax Credits
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51000000 USD
CY2019 us-gaap Income Tax Reconciliation Tax Credits
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57000000 USD
CY2019 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
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CY2021 ctsh Effective Income Tax Rate Reconciliation Reversal Of Indefinite Reinvestment Assertion Percent
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0
CY2020 ctsh Effective Income Tax Rate Reconciliation Reversal Of Indefinite Reinvestment Assertion Amount
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-140000000 USD
CY2020 ctsh Effective Income Tax Rate Reconciliation Reversal Of Indefinite Reinvestment Assertion Percent
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CY2019 ctsh Effective Income Tax Rate Reconciliation Reversal Of Indefinite Reinvestment Assertion Amount
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0 USD
CY2019 ctsh Effective Income Tax Rate Reconciliation Reversal Of Indefinite Reinvestment Assertion Percent
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0
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
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4000000 USD
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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43000000 USD
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1000000 USD
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22000000 USD
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7000000 USD
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1309000000 USD

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